BHP Billiton Limited
(ASX:BHP) has announced a 9 per cent increase in production for the year ended 30 June, 2014.
The miner has achieved strong operating performance with annual records achieved across 12 operations and four commodities. Western Australia Iron Ore and Queensland Coal annual production each exceeded guidance with record production as output rose by more than 20 per cent.
Both copper and petroleum production posted solid gains. BHP also announced the completion of six major projects and said first production at its Caval Ridge coal mine came in ahead of schedule and under budget.
BHP has managed to reduce costs and increase output across its operations. CEO, Andrew Mackenzie said he expects growth of 16 per cent over the next two years.
BHP posted a net profit of close to $10 billion for the half year to 31st December 2013.
